野 "Reduction of Hwacheon Daeyu Rental Units During Lee Jae-myung's Tenure as Seongnam Mayor"

Criticism of "6 Members of the 5 Billion Promise Club, Park Geun-hye Government Officials"

[Asia Economy Reporters Oh Ju-yeon and Lee Hyun-joo] On the 7th, the People Power Party focused on questioning the fairness of the selection process and allegations of preferential treatment involving Hwacheon Daeyu Asset Management during the Daejang-dong development. On the other hand, the Democratic Party of Korea used the fact that all individuals listed in the previously announced ‘50 Billion Won Promise Club’ were opposition party figures as a point of attack.

Lee Jun-seok, leader of the People Power Party, is leaving the National Assembly on the 6th to begin a walking protest urging the introduction of a special prosecutor after concluding a press conference calling for a special prosecutor investigation into the Lee Jae-myung Daejang-dong gate./Photo by Yoon Dong-joo doso7@

On this day, Park Soo-young, a member of the National Assembly’s Political Affairs Committee from the People Power Party, raised doubts about the selection process of the Hana Bank consortium as the private developer for the Daejang-dong development project. The Hana Bank consortium included Hwacheon Daeyu and was selected as the preferred negotiation partner for the Daejang-dong development. According to materials obtained by Representative Park, the bidding guidelines showed the distribution of business profits for three consortia, but the Meritz Securities consortium proposed higher business profits than the Hana Bank consortium, which actually carried out the project. In terms of loan interest rate scores, Meritz Securities consortium scored 70 points, the Korea Development Bank consortium 60 points, while the Hana Bank consortium scored only 20 points.

Representative Park pointed out, "In urban development bids where results often differ by around 10 points, such a score difference is irreversible."

Kim Eun-hye, a member of the Land, Infrastructure and Transport Committee from the People Power Party, stated, "It has been confirmed that during Lee Jae-myung’s tenure as mayor of Seongnam, the housing construction plan was changed to significantly increase Hwacheon Daeyu’s sale volume while reducing rental units," adding, "This contradicts claims that the rental housing ratio was reduced after Lee stepped down as mayor of Seongnam." Lee Jun-seok, leader of the People Power Party, pressured on the morning of the same day, saying, "If the investigation into the allegations proceeds passively, it will be difficult to withstand the public backlash."

Yoon Ho-jung, the floor leader of the Democratic Party of Korea, is delivering opening remarks at the National Assembly's inspection countermeasure meeting held on the 7th. Photo by Yoon Dong-ju doso7@

On the other hand, the Democratic Party, which labeled the Daejang-dong controversy as a ‘People Power Party Gate,’ turned its criticism toward six individuals listed as recipients of 5 billion won from Hwacheon Daeyu, all of whom were figures from the Park Geun-hye administration. Floor leader Yoon Ho-jung said, "All six individuals on the list are mostly former prosecutors from the Park Geun-hye government, by Park Geun-hye, and for Park Geun-hye," adding, "Remembering how pro-Park and pro-Lee factions gathered to orchestrate construction corruption and development manipulation sends chills down my spine."

During the national audit on this day, the dispute over Daejang-dong continued for the fourth day. At the Board of Legislation and Judiciary’s audit of the Board of Audit and Inspection, pressure was applied to conduct an actual audit based on the public interest audit request submitted the previous day by the People Power Party regarding preferential treatment allegations in the Daejang-dong development project. Meanwhile, at the Land, Infrastructure and Transport Committee’s audit of the Korea Land and Housing Corporation (LH), questions were raised about the appropriateness of the Daejang-dong design.

This content was produced with the assistance of AI translation services.